Industry Ministry, WEF Partner on Global Minerals

The Ministry of Industry and Mineral Resources and the World Economic Forum announced a cooperation agreement signed on the sidelines of the Future Minerals Forum (FMF) in Riyadh. The signing took place in the presence of Minister of Industry and Mineral Resources Bandar Alkhorayef, FMF Chief Executive Ali Al-Mutairi, and World Economic Forum Executive Committee Member Fernando J. Gómez.
Under the agreement, the cooperation will run until September 2027, with FMF serving as the central and principal platform for implementation and management of the related dialogue. The cooperation aims to unify efforts to strengthen partnerships around critical minerals required for energy and other technologies, contributing to the assurance of resilient, sustainable, and responsible mineral supplies aligned with industrial objectives and the energy transition. According to the agreement, the initiative will be overseen by a joint executive committee comprising representatives from the ministry and the World Economic Forum.
The Future Minerals Forum and the World Economic Forum will support efforts to mobilize the public and private sectors to enhance resilience, transparency, and capacity building across mineral value chains. This includes developing and disseminating insights and knowledge on mineral traceability and policy options to increase supply. These insights are intended to complement FMF’s ongoing initiatives to advance standards and best practices in the sector.
The minister affirmed that this partnership represents a pivotal step toward advancing FMF’s objectives in building a more sustainable and equitable global minerals ecosystem, emphasizing that cooperation with the World Economic Forum embodies the Kingdom of Saudi Arabia’s vision to become a key hub within global mineral value chains.
Gómez expressed optimism about the cooperation with the ministry, stressing that securing resilient and sustainable mineral supplies requires close collaboration across sectors and borders, and that this partnership will help unlock the potential of mineral resources as drivers of sustainable growth and shared prosperity.
This cooperation further strengthens the Kingdom’s ongoing efforts to advance international collaboration on minerals. Since the launch of the Future Minerals Forum in 2022, it has become a global platform that has helped shape the future of minerals and provides a space for cross-sector dialogue that supports action and leadership in mineral traceability and sustainability.
The ministry, the World Economic Forum, and the Future Minerals Forum will leverage this agreement to enhance cooperation between governments and the private sector, support enabling policies, best practices, and innovations across mineral supply chains, address sustainability and efficiency challenges, and strengthen environmental, social, and corporate governance standards.
The agreement reflects the World Economic Forum’s role as a neutral, non-profit international organization that supports cross-sector cooperation and promotes solution-oriented dialogue to ensure resource sustainability and inclusive growth. The project’s outcomes and insights are expected to contribute to the sixth edition of FMF, to be hosted in Riyadh in January 2027.
It is noteworthy that FMF brings together, through the government-led ministerial roundtable, senior government representatives, policymakers, industry leaders, non-governmental organizations, academic institutions, and stakeholders across the mineral value chain to address sector challenges, enhance investment opportunities, and ensure responsible and resilient mineral supplies.
— SPA